Fortescue opens new berth in Port Hedland

Iron-ore miner Fortescue Metals on Friday officially opened its new iron-ore berth in Port Hedland. The berth was the first of two to be constructed at the Herb Elliott port, which would achieve a 120-million ton a year capacity by 2013.

Decmil gets A$137m in contracts

Iron-ore miner Fortescue Metals has awarded fellow listed Decmil Group with a major new contract, as well as various existing contracts, totalling A$137-million. Decmil would now construct the facilities for Fortescue’s 155-million-ton-a-year...

WA starts procuring land for Anketell Port

The Western Australian state government has moved to assemble the land required for the proposed Anketell Port, some 30 km east of Karratha and 10 km from Cape Lambert. Premier and state Development Minister Colin Barnett said on Wednesday that...

Fortescue keeps FY guidance despite quarterly output dip

Iron-ore miner Fortescue Metals has reported a drop in production and shipping during the three months to March, as operations were hit by two cyclones. The miner said on Thursday that ore mined during the quarter reached 13.6-million tons, a 15%...

BC adds to Nullagine mine life

Iron-ore miner BC Iron has extended the life-of-mine of its Nullagine joint venture with Fortescue Metals by one-and-a-half years, following an assessment of the new mineral resource at the Bonnie East deposit. The deposit is estimated to host...

Forge wins second contract at Solomon

Project house Forge has been awarded a second major contract at iron-ore miner Fortescue Metals’ proposed Solomon development, in Western Australia’s Pilbara. The group reported on Wednesday that it had been given a notice of award of a...

Fortescue scales up bond sale to $2bn to fund Pilbara expansion

Iron-ore miner Fortescue Metals has doubled its recent bond offering to $2-billion, as initial support for the offering exceeded expectations. “We were approximately five times oversubscribed for the initial $1-billion and it was that reception...

Fortescue defends against Swan attack

Iron-ore miner Fortescue Metals came out swinging against allegations made by federal Treasurer Wayne Swan that a handful of entrepreneurs were using their own wealth to pursue vested interests. In an essay published by The Monthly magazine, Swan...

New bond issuance could pay for Teck acqusitions, S&P says

Ratings agencies on Friday fixed the ‘BBB’ score to the $1-billion in new bonds Teck Resources sold this week, with Standard & Poor's suggesting the financing flexibility the proceeds provide could go towards acquisitions. Canada’s biggest...

BC declares maiden profit

Iron-ore junior BC Iron has declared a maiden operational profit of A$8.9-million for the first half of 2012. Sales revenue for the six months under review increased by 267% to A$62.8-million, up from the A$17.1-million reported in the previous...

Fortescue’s half-year profit surges 155%

Iron-ore miner Fortescue Metals on Wednesday reported a 155% increase in its net profit after tax, driven by record revenue figures for the first half of the 2012 financial year. After-tax profit increased to $801-million in the six months,...

Fortescue secures option to develop Iron Valley

Iron-ore miner Fortescue Metals has signed a memorandum of understanding with Iron Ore Holdings (IOH) to obtain a 13-month exclusive option on the Iron Valley tenements, in central Pilbara. Fortescue would pay A$25-million in cash for an...